One of the leading crypto market makers, Wintermute, has lost about $160 million in a hack, becoming the latest crypto firm to suffer a breach. Wintermute's CEO and founder, Evgeny Gaevoy, revealed in a series of tweets that the firm's decentralized finance operations were compromised on Sept. 20.1
A crypto market maker provides liquidity on crypto exchanges through digital assets. Currently, Wintermute provides liquidity across over 50 exchanges and trading platforms, including Binance, Coinbase, FTX, Kraken, and decentralized platforms Dydx and Uniswap.2
Cryptocurrency market maker Wintermute got hacked for $160 million.
Wintermute claims to be solvent despite being in debt of $200 million owed to several DeFi platforms.
The platform plans to pay the hacker 10% of the looted funds if the money is refunded.
$200M in Outstanding DeFi Debt
A major challenge facing the UK-based crypto market maker is repaying millions of dollars in debt. It owes over $200 million to several...
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